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DeA Capital

DB:CWH
Snowflake Description

Excellent balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CWH
DB
€289M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

DeA Capital S.p.A. is the private equity arm of De Agostini S.p.A. The last earnings update was 23 days ago. More info.


Add to Portfolio Compare Print
  • DeA Capital is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • DeA Capital has significant price volatility in the past 3 months.
CWH Share Price and Events
7 Day Returns
2.3%
DB:CWH
-6.8%
DE Capital Markets
-2.7%
DE Market
1 Year Returns
-24.7%
DB:CWH
-11.8%
DE Capital Markets
-20.4%
DE Market
CWH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
DeA Capital (CWH) 2.3% -18.3% -24.1% -24.7% -28.8% -42.8%
DE Capital Markets -6.8% -21.9% -18% -11.8% -29% -57.8%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • CWH underperformed the Capital Markets industry which returned -11.8% over the past year.
  • CWH underperformed the Market in Germany which returned -20.4% over the past year.
Price Volatility
CWH
Industry
5yr Volatility vs Market

CWH Value

 Is DeA Capital undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of DeA Capital to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for DeA Capital.

DB:CWH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= €1.87 * 1.9%
€0.04
Book Value of Equity per Share Median Book Value from the past 5 years. €1.87
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:CWH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 8.2%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 24%) (11.07%))
0.872
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.87
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.872 * 8.23%)
6.79%

Discounted Cash Flow Calculation for DB:CWH using Excess Returns Model Model

The calculations below outline how an intrinsic value for DeA Capital is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:CWH Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (1.9% – 6.79%) * €1.87)
€-0.09
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-0.09 / (6.79% - -0.39%)
€-1.27
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €1.87 + €-1.27
€0.6
DB:CWH Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:CWH represents 0.97662x of BIT:DEA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97662x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 0.60 x 0.97662
€0.58
Value per share (EUR) From above. €0.58
Current discount Discount to share price of €1.09
= -1 x (€1.09 - €0.58) / €0.58
-86.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of DeA Capital is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for DeA Capital's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are DeA Capital's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CWH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.05
BIT:DEA Share Price ** BIT (2020-04-02) in EUR €1.11
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 22.18x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of DeA Capital.

DB:CWH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:DEA Share Price ÷ EPS (both in EUR)

= 1.11 ÷ 0.05

23.66x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DeA Capital is overvalued based on earnings compared to the DE Capital Markets industry average.
  • DeA Capital is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does DeA Capital's expected growth come at a high price?
Raw Data
DB:CWH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for DeA Capital, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on DeA Capital's assets?
Raw Data
DB:CWH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €1.76
BIT:DEA Share Price * BIT (2020-04-02) in EUR €1.11
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:CWH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:DEA Share Price ÷ Book Value per Share (both in EUR)

= 1.11 ÷ 1.76

0.63x

* Primary Listing of DeA Capital.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DeA Capital is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess DeA Capital's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. DeA Capital has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CWH Future Performance

 How is DeA Capital expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
40%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is DeA Capital expected to grow at an attractive rate?
  • Unable to compare DeA Capital's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare DeA Capital's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare DeA Capital's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:CWH Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:CWH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:CWH Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 70 10 1
2020-04-02
DB:CWH Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 73 9 12
2019-09-30 70 -17 11
2019-06-30 49 55 -10
2019-03-31 101 63 12
2018-12-31 103 96 11
2018-09-30 103 191 -10
2018-06-30 112 131 -1
2018-03-31 63 144 -24
2018-01-01 73 91 -12
2017-09-30 76 30 8
2017-06-30 87 34 17
2017-03-31 86 0 19

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if DeA Capital is high growth as no earnings estimate data is available.
  • Unable to determine if DeA Capital is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:CWH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from DeA Capital Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CWH Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.04 0.04 0.04 1.00
2020-04-02
DB:CWH Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.05
2019-09-30 0.04
2019-06-30 -0.04
2019-03-31 0.05
2018-12-31 0.04
2018-09-30 -0.04
2018-06-30 -0.01
2018-03-31 -0.09
2018-01-01 -0.05
2017-09-30 0.03
2017-06-30 0.06
2017-03-31 0.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if DeA Capital will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess DeA Capital's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
DeA Capital has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CWH Past Performance

  How has DeA Capital performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare DeA Capital's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • DeA Capital's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • DeA Capital's 1-year earnings growth exceeds its 5-year average (10.7% vs -8.5%)
  • DeA Capital's earnings growth has exceeded the DE Capital Markets industry average in the past year (10.7% vs 5.7%).
Earnings and Revenue History
DeA Capital's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from DeA Capital Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CWH Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 72.68 12.26
2019-09-30 70.27 10.66 36.82
2019-06-30 49.20 -9.95 34.31
2019-03-31 101.17 11.83 33.95
2018-12-31 102.86 11.07 34.34
2018-09-30 102.75 -10.42 32.76
2018-06-30 111.70 -1.45 33.01
2018-03-31 62.86 -23.79 35.04
2018-01-01 72.83 -12.33 33.73
2017-09-30 75.81 7.53 31.22
2017-06-30 87.35 16.76 31.49
2017-03-31 86.19 18.92 30.78
2016-12-31 80.77 12.43 31.06
2016-09-30 76.81 -21.86 30.60
2016-06-30 114.90 19.22 32.36
2016-03-31 149.16 35.13 31.23
2015-12-31 156.04 40.79 32.56
2015-09-30 154.97 66.45 32.57
2015-06-30 117.07 23.88 32.39
2015-03-31 73.56 -9.64 35.54
2014-12-31 28.29 -56.71 33.65
2014-09-30 27.37 -80.49 28.12
2014-06-30 23.68 -85.51 28.92
2014-03-31 30.02 -75.34 27.22
2013-12-31 78.69 -31.13 28.31
2013-09-30 76.33 -8.88 33.68
2013-06-30 60.88 -30.30 33.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • DeA Capital has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • DeA Capital used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • DeA Capital has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess DeA Capital's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
DeA Capital has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CWH Health

 How is DeA Capital's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up DeA Capital's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • DeA Capital is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • DeA Capital's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of DeA Capital's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 10.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from DeA Capital Company Filings, last reported 3 months ago.

DB:CWH Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 481.10 16.52 113.70
2019-09-30 474.72 1.80 128.81
2019-06-30 464.11 1.49 126.15
2019-03-31 501.33 0.00 155.09
2018-12-31 505.78 0.20 150.08
2018-09-30 543.93 0.20 187.25
2018-06-30 596.78 0.20 152.69
2018-03-31 579.81 0.20 169.96
2018-01-01 585.06 0.20 132.30
2017-09-30 630.51 0.24 96.44
2017-06-30 646.07 0.72 81.42
2017-03-31 672.56 1.17 86.77
2016-12-31 661.05 1.24 100.68
2016-09-30 666.92 0.42 110.31
2016-06-30 653.72 0.20 89.34
2016-03-31 681.03 0.20 133.92
2015-12-31 685.16 0.65 131.00
2015-09-30 735.58 1.56 119.85
2015-06-30 760.10 85.79 89.86
2015-03-31 822.38 5.56 71.01
2014-12-31 826.62 5.56 60.66
2014-09-30 801.44 169.23 32.46
2014-06-30 800.45 174.70 26.29
2014-03-31 726.20 184.87 33.80
2013-12-31 806.56 189.62 31.86
2013-09-30 798.27 192.93 42.04
2013-06-30 824.91 194.29 31.60
  • DeA Capital's level of debt (3.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.7% vs 3.4% today).
  • Debt is well covered by operating cash flow (55.4%, greater than 20% of total debt).
  • DeA Capital earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess DeA Capital's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. DeA Capital has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CWH Dividends

 What is DeA Capital's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
10.79%
Current annual income from DeA Capital dividends. Estimated to be 8.99% next year.
If you bought €2,000 of DeA Capital shares you are expected to receive €216 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • DeA Capital's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • DeA Capital's dividend is above the markets top 25% of dividend payers in Germany (4.86%).
Upcoming dividend payment

Purchase DeA Capital before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:CWH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:CWH Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.10 1.00
2020-04-02
DB:CWH Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-03-10 0.120 11.272
2019-03-27 0.120 8.773
2019-03-07 0.120 8.589
2018-03-28 0.120 9.142
2018-03-13 0.120 8.105
2017-03-10 0.120 8.928
2016-03-30 0.120 10.626
2016-03-09 0.120 9.400

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, DeA Capital has been paying a dividend for less than 10 years.
  • DeA Capital has only been paying a dividend for 4 years, and since then there has been no growth.
Current Payout to shareholders
What portion of DeA Capital's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as DeA Capital has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess DeA Capital's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can DeA Capital afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. DeA Capital has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CWH Management

 What is the CEO of DeA Capital's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paolo Ceretti
COMPENSATION €30,000
AGE 64
TENURE AS CEO 13.3 years
CEO Bio

Mr. Paolo Ceretti serves as the Chief Executive Officer and Member of the Board of Directors of Ideami Spa. Mr. Ceretti serves as a General Manager at De Agostini S.p.A. since 2004. He is the Chief Executive Officer at DeA Capital S.p.A. and an Executive Director at DeA Capital S.p.A. since joining the firm in January 11, 2007. He serves as the Chief Executive Officer at IDEAMI S.p.A. and De Agostini Editore. He serves as the Chief Executive Officer at De Agostini Communications. Mr. Ceretti serves as a Director of IGT, Banijay Group, Zodiak Entertainment, IDeA Fimit SGR, Zodiak Media S.A., and Banijay Rights Limited. He serves as a Director of De Agostini Communications. Mr. Ceretti was Non-Executive Director of International Game Technology PLC from April 7, 2015 to May 2018. Mr. Ceretti is Director at IDeA Capital Funds SGR SPA since 2013. He has been a Director of IGT, Générale de Santé Société Anonyme since 2011. Mr. Ceretti has professional experience at Agnelli Group. He served as General Manager at DeA Partecipazioni SpA. Since 1979, Mr. Ceretti served several positions of increasing importance at Fiat SpA (internal auditing and finance), and in the financial services sector (planning, credit and control), and served as the Head of Strategic Planning and Development at IFIL. He served as the Chief Executive Officer at Idea Capital Funds SGR SPA from April 2016 to June 2017. Mr. Ceretti was responsible for the internet Business to customer sector of Fiat/IFIL in 1999 as the Chief Executive Officer and the General Manager at CiaoHolding and CiaoWeb. He also served as the Chief Executive Officer and a General Manager at GlobalValue SpA in the Information Technology sector. Mr. Ceretti served on the GTECH S.p.A. Board from 2004 to April 2015. He served as a Member of Supervisory Board of Générale de Santé Société Anonyme since June 27, 2007. Mr. Ceretti served as a Director of De Agostini S.p.A. He served as a Director of Toro Assicurazioni S.p.A, Alleanza Toro S.p.A. and Migros Türk T.A.S. Mr. Ceretti served as the Vice-Chairman of Ramsay Générale de Santé SA. He is fluent in English and French. In 1979, he graduated in Economy and Business from Università degli Studi of Pavia.

CEO Compensation
  • Paolo's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Paolo's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the DeA Capital management team in years:

13.2
Average Tenure
57
Average Age
  • The average tenure for the DeA Capital management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Lorenzo Pellicioli

TITLE
Chairman
COMPENSATION
€30K
AGE
68

Paolo Ceretti

TITLE
CEO & Executive Director
COMPENSATION
€30K
AGE
64
TENURE
13.3 yrs

Manolo Santilli

TITLE
CFO & Investor Relations Director
AGE
50
TENURE
13.2 yrs

Pier Rossi

TITLE
Head of Strategy & Development
AGE
46
TENURE
2.8 yrs
Board of Directors Tenure

Average tenure and age of the DeA Capital board of directors in years:

13.3
Average Tenure
68
Average Age
  • The average tenure for the DeA Capital board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Paolo Ceretti

TITLE
CEO & Executive Director
COMPENSATION
€30K
AGE
64
TENURE
13.3 yrs

Cesare Grifoni

TITLE
Chairman of Board of Statutory Auditor
COMPENSATION
€25K
TENURE
4 yrs

Lorenzo Pellicioli

TITLE
Chairman
COMPENSATION
€30K
AGE
68
TENURE
13.3 yrs

Donatella Busso

TITLE
Independent Director
COMPENSATION
€45K
AGE
46
TENURE
5 yrs

Elena Vasco

TITLE
Independent Director
COMPENSATION
€40K
AGE
55

Davide Mereghetti

TITLE
Lead Independent Director
AGE
53
TENURE
1.3 yrs

Lino Benassi

TITLE
Non Executive Director
COMPENSATION
€30K
AGE
76
TENURE
13.3 yrs

Marco Drago

TITLE
Non Executive Director
COMPENSATION
€30K
AGE
73
TENURE
13.3 yrs

Marco Boroli

TITLE
Non Executive Director
COMPENSATION
€30K
AGE
72

Francesca Golfetto

TITLE
Independent Director
COMPENSATION
€35K
AGE
69
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess DeA Capital's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. DeA Capital has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CWH News

Simply Wall St News

CWH Company Info

Description

DeA Capital S.p.A. is the private equity arm of De Agostini S.p.A. specializing in direct investments, fund of funds investments, and co-investments. The firm invests in buyouts in middle market and mature companies. Within direct investments, it seeks to invest in the private companies operating in service sector. It also invests in listed company, if it is planning to delist. The firm prefers to invest in information and communication technology, financial services, real estate, life science, and healthcare sectors. In information and communication technology sector, it focuses on services and applications for next generation communications and internet including wireless, optical networking, IP telephony, next generation access, high speed switching, broadband, communications components, e-commerce and e-business applications, and security. The firm seeks to invest across the world mainly in companies based in Europe with a focus on Southern Europe and Emerging Europe. It typically invests between €50 million ($67.005 million) and €200 million ($268.02 million) in its portfolio companies. The firm seeks majority and minority position with an initial ownership up to ten percent. It prefers to take a board position in its portfolio companies and also participates in subsequent rounds of financing. The firm typically invests out of personal capital. DeA Capital S.p.A. was founded in 2007 and is based in Milan, Italy with an additional office in Greater London, United Kingdom.

Details
Name: DeA Capital S.p.A.
CWH
Exchange: DB
Founded: 2007
€289,092,883
259,975,615
Website: http://www.deacapital.it/EN/Home_eng.aspx
Address: DeA Capital S.p.A.
Via Brera, 21,
Milan,
Milan, 20121,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT DEA Ordinary Shares Borsa Italiana IT EUR 29. Mar 2000
DB CWH Ordinary Shares Deutsche Boerse AG DE EUR 29. Mar 2000
BST CWH Ordinary Shares Boerse-Stuttgart DE EUR 29. Mar 2000
LSE 0E40 Ordinary Shares London Stock Exchange GB EUR 29. Mar 2000
BATS-CHIXE DEAM Ordinary Shares BATS 'Chi-X Europe' GB EUR 29. Mar 2000
Number of employees
Current staff
Staff numbers
201
DeA Capital employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 21:08
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/26
Last earnings filing: 2020/03/10
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.